MIRA INFORM REPORT
|
Report No. : |
353249 |
|
Report Date : |
09.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
CALIBRE CHEMICALS PRIVATE LIMITED (w.e.f. 23.09.1997) |
|
|
|
|
Formerly Known
As : |
H. T. BHAVANI CHEMICALS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
703, Dalamal
House, 206, Nariman Point, Mumbai – 400 021, Maharashtra |
|
Tel. No.: |
91-9820050285
(Mr. Rao) |
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|
|
|
Country : |
India |
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Financials (as
on) : |
31.03.2015 |
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|
Date of
Incorporation : |
20.10.1983 |
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Com. Reg. No.: |
11-031128 |
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Capital
Investment / Paid-up Capital : |
Rs.99.815 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24100MH1983PTC031128 |
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|
|
|
IEC No.: |
0388099917 |
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMC10102B |
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PAN No.: [Permanent Account No.] |
AAACC1952G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturing of Chemicals such as Iodine Derivatives, Persulphates, Perchlorates, Selenium Salts etc. (Confirmed by management) |
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No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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Comments : |
Subject is an established company incorporated in the year 1983 having
good track. Available financial indicates sound financial risk profile marked by
healthy net worth base along with negligible debt recorded and good profit
margin of the company. The rating further takes into consideration company’s long established
track record and favorable gap between trade payables and trade receivables. Trade relations are reported as fair. Business is active. Payments
terms are reported as regular and as per commitment. In view of promoter’s resourcefulness and sound financial base, the
company can be considered normal for business dealings at usual trade terms
and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating = (A-) |
|
Rating Explanation |
Adequate degree of safety and it carry low credit risk. |
|
Date |
November 13, 2015 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating = (A2+) |
|
Rating Explanation |
Strong degree of safety and low credit risk. |
|
Date |
November 13, 2015 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2015.
INFORMATION PARTED BY
|
Name : |
Mr. Rao |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-9820050285 |
|
Date : |
04.12.2015 |
LOCATIONS
|
Registered Office/ Corporate
Office : |
703, Dalamal
House, 206, Nariman Point, Mumbai – 400 021, Maharashtra, India |
|
Tel. No.: |
91-22-22823148 /
22844335 / 22871797 |
|
Mobile No.: |
91-9820050285
(Mr. Rao) |
|
Fax No.: |
91-22-22832087 |
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E-Mail : |
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Website : |
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Factory : |
901-907, 1002 and
1006, GIDC Sarigam, Umbergaon Taluka, District Valsad – 396155, |
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Tel. No.: |
91-260-2780116 |
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Fax No.: |
91-260-2781336 |
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|
|
|
Wind Farm
Factory : |
Locations 5 and
6, Survey Number 384, |
DIRECTORS
As on 30.05.2014
|
Name : |
Mr. Ranjit
Hiranand Bhavnani |
|
Designation : |
Managing Director |
|
Address : |
3, |
|
Date of Birth
: |
02.11.1951 |
|
Qualification
: |
B. Tech, M. Tech,
M.B.A. |
|
Date of Appointment : |
20.10.1983 |
|
PAN No.: |
AAAHR0797R |
|
DIN No.: |
00004417 |
|
|
|
|
Name : |
Mrs. Mala Ranjit
Bhavnani |
|
Designation : |
Director |
|
Address : |
3, |
|
Date of Birth
: |
02.11.1954 |
|
Qualification
: |
B. Sc. |
|
Date of Appointment : |
20.10.1985 |
|
PAN No.: |
AAFPB1108B |
|
DIN No.: |
00004419 |
|
|
|
|
Name : |
Mr. Dhanesh
Choith Bhagia |
|
Designation : |
Executive
Director |
|
Address : |
C-403, Ganga
Estate, |
|
Date of Birth
: |
08.12.1953 |
|
Qualification
: |
B. Tech |
|
Date of Appointment : |
20.03.1991 |
|
PAN No.: |
AAFPB1419D |
|
DIN No.: |
00005472 |
KEY EXECUTIVES
|
Name : |
Mr. Rao |
|
Designation : |
Finance Manager |
|
|
|
|
Name : |
Ms. Suneeta Mukund Mane |
|
Designation : |
Secretary |
|
Address : |
Roomm No. A-139, Sector-2, Airoli, Navi Mumbai - 400708, Maharashtra, India |
|
Date of Appointment : |
01.08.2015 |
|
Pan No.: |
AWQPM1127J |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2015
|
Names of Shareholders |
No. of Shares |
%age |
|
Ranjit H. Bhavnani |
578255 |
57.93 |
|
Mala R Bhavnani |
232900 |
23.33 |
|
Rikhil R Bhavnani |
93500 |
9.37 |
|
Trivik R Bhavnani |
93500 |
9.37 |
|
Total |
998155 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 30.05.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Chemicals such as Iodine Derivatives, Persulphates, Perchlorates, Selenium Salts etc. (Confirmed by management) |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
Cash, L/C and Credit (30 / 60 Days) |
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Purchasing : |
Cash, L/C and Credit (30 / 60 Days) |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Wholesalers, Retailers, and End Users
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No. of Employees : |
100 (Approximately) |
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Bankers : |
· State Bank of India, Commercial Branch, N.G.N., Vaisya Marg, Bank Street, Horniman Circle, P.B. No. 10141, Fort, Mumbai - 400023, Maharashtra, India ·
ING
Vysya Bank Limited, ·
Bank
of ·
SBI
Commercial and International Bank Limited, Maker Chamber III, Nariman Point,
Mumbai – 400021, Maharashtra, India ·
HDFC
Bank, Nariman Point, Mumbai, Maharashtra, India |
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Facilities : |
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Auditors : |
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|
Name : |
Deloitte Haskins
and Sells Chartered
Accountants |
|
Address : |
Heritage 3rd
Floor, Near Gujarat Vidhyapith , Off Ashram Road, Ahmedabad – 380014,
Gujarat, India |
|
Tel. No. : |
91-79-27582542 /
27582543 |
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Fax No. : |
91-79-27582551 |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AABFD7919A |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates : |
CHEMEXCIL, Bombay Chamber of Commerce and Industry |
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Subsidiaries : |
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CAPITAL STRUCTURE
As on 31.03.2015
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.100/- each |
Rs.100.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
998155 |
Equity Shares |
Rs.100/- each |
Rs.99.816
Million |
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|
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FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES
OF FUNDS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
99.816 |
99.816 |
99.816 |
|
(b) Reserves & Surplus |
810.989 |
961.704 |
918.198 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
910.805 |
1061.520 |
1018.014 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
3.500 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.798 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
16.133 |
8.569 |
7.728 |
|
Total
Non-current Liabilities (3) |
16.133 |
8.569 |
12.026 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.120 |
13.283 |
150.133 |
|
(b) Trade payables |
373.117 |
449.409 |
637.825 |
|
(c) Other current liabilities |
10.045 |
9.594 |
15.252 |
|
(d) Short-term provisions |
48.600 |
82.280 |
83.378 |
|
Total
Current Liabilities (4) |
431.882 |
554.566 |
886.588 |
|
|
|
|
|
|
TOTAL |
1358.820 |
1624.655 |
1916.628 |
|
|
|
|
|
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
140.579 |
123.806 |
121.353 |
|
(ii) Intangible Assets |
0.818 |
1.123 |
0.397 |
|
(iii) Capital work-in-progress |
3.528 |
6.331 |
7.344 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
1.059 |
1.059 |
1.059 |
|
(c) Deferred tax assets (net) |
2.255 |
1.265 |
0.000 |
|
(d) Long-term Loan and Advances |
35.498 |
34.674 |
36.297 |
|
(e) Other Non-current assets |
0.631 |
0.683 |
1.203 |
|
Total
Non-Current Assets |
184.368 |
168.941 |
167.653 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
397.376 |
707.089 |
1144.732 |
|
(c) Trade receivables |
487.371 |
615.657 |
557.980 |
|
(d) Cash and cash equivalents |
182.633 |
89.380 |
14.096 |
|
(e) Short-term loans and
advances |
83.665 |
32.097 |
30.108 |
|
(f) Other current assets |
23.407 |
11.491 |
2.059 |
|
Total
Current Assets |
1174.452 |
1455.714 |
1748.975 |
|
|
|
|
|
|
TOTAL |
1358.820 |
1624.655 |
1916.628 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
SALES |
|
|
|
|
|
Revenue from Operations |
2720.094 |
2843.651 |
3330.500 |
|
|
Other Income |
39.194 |
1.761 |
NA |
|
|
TOTAL
(A) |
2759.288 |
2845.412 |
NA |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
2144.767 |
2183.098 |
|
|
|
Purchases of Stock-in-Trade |
0.000 |
1.814 |
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
13.377 |
108.719 |
|
|
|
Operating Expenses |
200.213 |
190.966 |
|
|
|
Employees benefits expense |
84.158 |
70.899 |
|
|
|
Other expenses |
67.326 |
65.722 |
|
|
|
TOTAL
(B) |
2509.841 |
2621.218 |
NA |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
249.447 |
224.194 |
496.200 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
5.157 |
25.031 |
47.600 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
244.290 |
199.163 |
448.600 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
26.055 |
17.774 |
19.400 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
218.235 |
181.389 |
429.200 |
|
|
|
|
|
|
|
Less |
TAX (H) |
69.510 |
56.137 |
135.800 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
148.725 |
125.252 |
293.400 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD (K) |
NA |
884.600 |
702.300 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer to General Reserve |
|
12.500 |
29.400 |
|
|
Dividend |
|
69.900 |
69.900 |
|
|
Tax on Dividend |
|
11.900 |
11.900 |
|
|
Total
(M) |
NA |
94.300 |
111.200 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S (J+K+L-M) |
148.725 |
1026.800 |
884.600 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
149.00 |
125.48 |
293.94 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
NA |
3.500 |
6.000 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
NA |
408.279 |
584.929 |
|
Net cash flow from operating activity |
NA |
350.143 |
444.846 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
5.47 |
4.40 |
8.81 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
9.17 |
7.88 |
14.90 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
16.14 |
11.22 |
22.49 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.24 |
0.17 |
0.42 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.02 |
0.16 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.72 |
2.62 |
1.97 |
FINANCIAL ANALYSIS
[all figures are in
Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
99.816 |
99.816 |
99.816 |
|
Reserves & Surplus |
918.198 |
961.704 |
810.989 |
|
Net
worth |
1018.014 |
1061.520 |
910.805 |
|
|
|
|
|
|
long-term borrowings |
3.500 |
0.000 |
0.000 |
|
Short term borrowings |
150.133 |
13.283 |
0.120 |
|
Total
borrowings |
153.633 |
13.283 |
0.120 |
|
Debt/Equity
ratio |
0.151 |
0.013 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
3330.500 |
2843.651 |
2720.094 |
|
|
|
(14.618) |
(4.345) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
3330.500 |
2843.651 |
2720.094 |
|
Profit |
293.400 |
125.252 |
148.725 |
|
|
8.81% |
4.40% |
5.47% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
Yes |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
LITIGATION DETAILS
|
LITIGATION DETAILS |
|||||
|
Bench:- Bombay |
|||||
|
Presentation Date: 26.11.2015 |
|||||
|
Lodging No:- |
ITXAL/1834/2015 |
Failing Date:- |
26.11.2015 |
|
|
|
Petitioner:- |
PR. COMMISSIONER OF INCOME TAX -3 |
Respondent:- |
M/S CALIBRE CHEMICALS PRIVATE LIMITED |
||
|
Petn.Adv:- |
SURESH KUMAR (I2100) |
|
|||
|
District:- |
MUMBAI |
||||
|
Bench:- |
DIVISION |
Category: |
TAX APPEALS |
||
|
Status:- |
Pre-Admission |
Stage:- |
- |
||
|
Last Date:- |
03.12.2015 |
||||
|
Last Coram:- |
REGISTRAR (OS)/PROTHONOTARY AND SR. MASTER |
||||
|
Act:- |
Income Tax Act, 1961 |
Under Section : |
260A |
||
BACKGROUND
Subject was incorporated in 1983. Company’s core competency lies in electrochemical processing of inorganic chemicals. The manufacturing units are product specific and are housed in a substantially automated environment. It is in the business of manufacturing chemicals such as iodine derivatives, persulphates, perchlorates, selenium salts etc.
FUTURE OUTLOOK
Chemicals Commodity prices continued to decline globally for the second year. In particular prices of two important raw materials for the Company, iodine and selenium, fell off sharply in the face of increased global production. Additionally, de-stocking took place in China. This situation affected revenues and profitability for the year.
Several strategic products manufactured by the Company have been REACh registered. Several system certifications were renewed during the year, including ISO 9001:2008, ISO 22000:2005, ISO 14001:2004, BS OSHAS 1801:2007, FAMIQS, FSSAI and GMP.
Performance of the wind-power operations were satisfactory. The Selenium Project was commissioned during the year. Several persulphate, perchlorate and halogen compounds, pre-mixes and grades were also introduced. A dedicated electricity feeder now services Calibre directly from the State Grid. The Company has obtained access to the Indian Energy Exchange (IEX) and participates in power trading, subject to regulators directives.
INDEX
OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10211664 |
02/12/2014 * |
479,000,000.00 |
State Bank of India |
Commercial Branches(Advances), N. G. N Vaidya Marg |
C60968922 |
|
2 |
90242701 |
07/01/2014 * |
435,000,000.00 |
Citi Bank N.A. |
Trent House, 2nd Floor, G Block, Plot No. C60, Bandra Kurla Complex,
Bandra East, Mumbai, Maharashtra - 400051, INDIA |
B97886766 |
|
3 |
90241239 |
27/06/2012 * |
435,000,000.00 |
CITIBANK N. A. |
TRENT HOUSE, 2ND FLOOR, G BLOCK, PLOT NO.C60, BAN |
B43135565 |
CONTINGENT
LIABILITIES:
(Rs. in million)
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
|
Claims against company not acknowledged as debt |
NA |
17.451 |
|
Guarantees |
NA |
0.000 |
FIXED ASSETS
- Land
- Buildings
- Plant and Equipment
- Furniture and Fixtures
- Vehicles
- Office Equipment
- Computer Equipment’s
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources including
but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist organization
or whom notice had been received that all financial transactions involving
their assets have been blocked or convicted, found guilty or against whom a
judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.79 |
|
|
1 |
Rs.100.49 |
|
Euro |
1 |
Rs.72.51 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SUJ |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
54 |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment record
(10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.